I&M Bank Kenya Limited

I&M Bank Kenya Limited (hereinafter referred to as I&M Bank) is one of the leading commercial banks in the East African region, with an important position in the Kenyan banking industry for its innovative financial solutions, extensive service network and commitment to sustainable development. As a wholly owned subsidiary of I&M Group PLC, I&M Bank is committed to driving financial inclusion and regional economic development through a diverse product portfolio and advanced digital services. Its brand promise, Achieve More, embodies its mission to help customers and communities achieve greater goals.

Basic Information

I&M Bank is a private commercial bank established in 1974 and initially operated as a financial services company as Investments & Mortgages Limited before transforming into a commercial bank in 1996. The head office is located at 1st Parklands Avenue, 1st Parklands Avenue, Nairobi, Kenya 00100. I&M Bank is a wholly owned subsidiary of I&M Group PLC, which was listed on the Nairobi Stock Exchange (NSE) through a reverse takeover of City Trust Limited in 2013. British International Investment holds approximately 10.68% of I&M Group PLC, with the remainder held by the public and other investors. I&M Bank has a technical support agreement with the International Finance Corporation (IFC) for staff training, product development and risk management.

I&M Bank provides services in Kenya, Tanzania, Rwanda, Uganda and Mauritius, with approximately 170 branches in Kenya, including Nairobi, Mombasa, Nakuru and Eldoret. The bank offers ATM services through the 1Link network, enhancing financial accessibility for customers in urban and remote areas. I&M Bank is regulated by the Central Bank of Kenya (CBK). The bank participates in the Kenya Deposit Insurance Corporation (KDIC) scheme, which protects customer deposits up to Ksh100,000 (approximately US$800). No significant compliance issues have been identified recently, indicating operational stability.

Financial health

I&M Bank is in a strong financial position, with key financial indicators for 2023 showing good performance in terms of capital adequacy and liquidity. According to the 2023 annual report, I&M Group PLC has total assets of Ksh 415.2 billion (approximately US$3.61 billion) and shareholders' equity of Ksh 88 billion (approximately US$765 million). For I&M banks specifically, the core capital/total risk-weighted assets in 2023 will be 12.58%, and the total capital/total risk-weighted assets will be 17.63%, which is much higher than the minimum requirement of CBK (10.5% core capital, 14.5% total capital). The non-performing loan ratio (Gross NPL) was 11.7% and the net non-performing loan ratio was 5.1%, slightly higher than the 2023 average of 14.5% for the Kenyan banking sector. Although the specific data on the liquidity coverage ratio is not disclosed, the bank's liquid assets account for 35% of customer deposits (Ksh148 billion), indicating its strong liquidity management capabilities.

Financial Metrics 2023 Data Remarks Capital adequacy ratio 17.63% Total capital/total risk-weighted assets, well exceeding regulatory requirements Non-performing loan ratio 11.7% Gross NPL, Kenyan banking sector averages 14.5% (2023) Liquidity Coverage Ratio Undisclosed Liquid assets account for 35% of customer deposits, indicating strong liquidity

Deposits and loan products

depositsI

&M offers a variety of deposit products to meet the needs of individual and corporate customers:

• current accounts: including Club Account, PayGo Account, etc., to support daily transactions.

• Savings Accounts: such as I&M Savers Account (4% p.a., minimum balance of Ksh 5,000) and Young Savers Account (base rate of 2%, additional 50% interest if you make less than 6 withdrawals per year).

• Fixed Deposits: Includes MyGoalz Account (up to 8% p.a.) and Fixed Deposits with tenors ranging from 1 month to 1 year, with interest rates ranging from 5.00% to 8.75% depending on the amount deposited.

• Featured Products: Designed for children under the age of 17, the Young Savers Account is exempt from account maintenance fees and book fees, encouraging savings habits.

Deposit Products Interest Rate Range Note Current Account Interest-free Club Account, PayGo Account, etc., suitable for daily transactions Savings Account 2%-4% I&M Savers Account requires a minimum balance, and Young Savers has a bonus interest rate Fixed Deposit 5.00%-8.75% Fixed deposit rates vary according to the amount and term, MyGoalz Account up to 8%

LoansI&M Bank offers a wide range of loan products covering both personal and business needs:

• mortgage loans: Support for residential purchase or construction, with a maximum financing amount of 85% and a term of up to 60 months, with the option of "Step-Up" repayment plan (low initial repayment and high repayment later).

• Auto loan: Cooperate with Toyota Kenya with a maximum financing amount of 90% and a term of up to 60 months, covering Toyota, Suzuki and other brands.

• Personal Line of Credit: up to Ksh 10 million with maturities of 1 to 96 months, interest rate determined based on customer risk assessment, reduced by 2.75% from March 2025.

• Flexible Repayment Options: Early repayment and repayment plan adjustment are supported, and customers can operate through the I&M OTG app or online banking.

Loan Products Interest Rate Range Thresholds & Conditions Mortgage Loans Undisclosed Up to 85% of financing, valid ID and proof of finance required Car Loan Undisclosed Up to 90% financing with a term of up to 60 months Personal Line of Credit Depending on the risk assessment Up to Ksh 10 million, credit history and proof of income required List of common fees

&M Bank's fee structure is transparent, covering account management, transfers, and ATM use, among others

• Account Management Fee:

  • Club Account: Ksh 1000 per month

  • PayGo Account: No monthly feePremium

  • Select: Ksh 2,000 per month (waived if the average monthly balance reaches Ksh 1,000,000)

• Transfer fee:

  • EFT (domestic, less than Ksh 1 million): Ksh 380-543

  • SWIFT (RTGS): Ksh 543

  • PesaLink: Free to Ksh 163 depending on the amount

• ATM Interbank Withdrawal Fee:

  • I&M ATM:Club Account Free, Other Accounts 33 Kenyan Shillings

  • Non-I&M ATM: Club Account Free (other bank surcharges may apply), Other Account Ksh 55 Shillings

• Hidden Fees Tips: There may be a minimum balance requirement or specific trading conditions, customers are advised to carefully review the terms of the contract.

Types of Fees Details Account Management Fee Ksh 1000 per month for Club Account, free for PayGo Account Transfer Fee Ksh 380-543 EFT - Ksh 543, SWIFT Ksh 543 ATM Interbank Withdrawal Fee Ksh 55 for non-I&M ATM withdrawals, free for Club Account (surcharge may apply) Hidden Fee Reminder May include a minimum balance requirement, Need to review the terms and conditions regularly Digital Service Experience

I&M's Bank provides advanced digital services to enhance the customer experience:

• APP & Online Banking:

  • App name: I&M On The Go (OTG) Personal Mobile App, available for iOS and Android platforms, with a 4.5-star rating on the App Store and a 3.2-star rating on Google Play (some users have reported that the interface needs to be improved).

  • Online Banking: Available through I&M Online Banking, it supports remote account management and transactions.

• Core features: Real-time transfers, bill payments, M-Pesa transfers, account management, investment tool integration, check management, and credit card lock/unlock.

• Technological innovation: Support biometric login (fingerprint and facial recognition), SMS/email authentication and Google Authenticator, USSD code *458# provides basic functions.

Quality of customer service

I&M Bank is committed to providing high quality customer service:

• Service channels: 24/7 telephone support (+254 719 088 000, +254 20 322 1000, +254 732 100 000), e-mail ([email protected]) and online contact form. Social media such as I&M Bank Kenya Facebook also provide responses.

• Complaint handling: The bank promises to deal with complaints quickly, with compensation of Ksh 1,250 or Ksh 500 for failed RTGS or SWIFT transfers, with the exact complaint rate and resolution time not disclosed.

• Multi-language support: English and Kiswahili are supported, suitable for local and cross-border customers.

Security measures

security of

fundsCustomer deposits are secured by the Kenya Deposit Insurance Corporation (KDIC) up to Ksh 100,000. I&M Bank uses anti-fraud technologies such as real-time transaction monitoring, biometric authentication, and multi-layered security protocols to ensure the safety of funds.

data security

has not been confirmed to be ISO 27001 certified, but as a CBK-regulated bank, I&M Bank is subject to Kenyan data protection regulations. Its privacy notice indicates its commitment to the protection of customer data and no major data breaches have been reported.

Featured Services & Differentiation

I&M Bank stands out in the market through the following featured services

• market segments:

  • Student Account: Young Savers Account, designed for children under 17 years old, no account maintenance and book fees, 2% base interest rate, and an additional 50% interest if you make fewer than 6 withdrawals per year.

  • Green financial products: Participation in IFC and FMO green financing projects to support renewable energy and climate-smart agriculture, and the bank's headquarters building with Africa's largest photovoltaic skylight as part of its commitment to environmental protection.

• High Net Worth Services:P remium Banking services provide Club Account, wealth management solutions, and offshore banking services in partnership with Bank One to meet the needs of high-net-worth clients.

Market Position & Accolades

I&M Bank is a Tier 1 bank in Kenya and ranked 8th out of 40 banks in the country by total assets in 2019, with total assets of over US$252 billion (Ksh261 billion). The bank has received multiple industry recognitions, including:

• "Best Digital KYC/On-boarding" at the Global Banking & Finance Awards 2020, and

• "Best Bank Operation" at the Kenya Banking Association Sustainable Finance Initiative (SFI) Catalyst Awards

• It has won the Product Innovation Award and the Most Effective Bank Award many times

Conclusion

I&M Bank Kenya Limited occupies an important position in the Kenyan banking industry with its solid financial performance, extensive service network and innovative digital platform. The bank caters to the diverse needs of individual and corporate customers through a wide range of deposit and loan products, green finance programs and high-net-worth services. Its excellence in financial inclusion, sustainability, and customer service has made it a trusted financial partner in the East African region.

Branch Network

1. Kenyatta Avenue Branch – I&M Bank Tower, Kenyatta Avenue, Karen Branch, Nairobi

2. – Karen Office Park, Langata Road, Karen, Nairobi

3. 2nd Ngong Avenue Branch – I&M Bank House, 2nd Ngong Avenue, Nairobi

4. Sarit Centre Branch – 1st Floor, Sarit Centre, Westlands, Nairobi

5. Biashara Street Branch – Nairobi Ansh Square Industrial District Company, Biashara Street

6. – KCC Building, Changamwe Road, Nairobi

7. Langata Link Branch – Langata Link Complex, Langata South Road, Nairobi

8. Valley Arcade Branch – Nairobi Gitanga Road Kenol Kobil Station

9. Panari Sky Centre Branch – Nairobi - Mombasa Road, Nairobi

10. One Park Branch – 1 Park Avenue, Level 1 (junction of 1st Parklands and Limuru Road)

11. Wilson Airport Branch – Pewin House, Wilson Airport, Nairobi

12. Ongata Rongai Branch – Ground Floor, Maasai Mall, Ongata Rongai, Nairobi

13. South C Branch – South C Shopping Centre, Nairobi

14. Riverside Drive Branch -14 Riverside Drive, Nairobi

15. Nyali Complex Branch – Nyali Cinemax, Main Nyali Road, Mombasa

16. Mombasa Branch – Biashara Building, Nyerere Road, Mombasa

17. Kisumu Branch – Bon Accord House, Oginga Odinga Street, Kisumu

18. Nakuru Branch – Polo Centre, Kenyatta Avenue, Nakuru

19. El Doret Branch – 1st Floor, Zion Mall, Uganda Road, Eldoret

20. Changamwe Branch – Kisii Branch, 1st Floor, Refinery Building, Mombasa Refinery Road

21. – Royal Tower, Hospital Road, Kisii

22. Malindi Branch – Nyeri Branch, 1st Floor, Pine Court Building, Malindi Lamu Road

23. – Ground Floor, Nyaatha Plaza, Kimathi Way, Nyeri

24. Thika Branch – Ground Floor, 80 West Plaza, opposite Tuskis Supermarket, Thika

25. Village Market Branch – Village Market Mall - New Wing, 1st Floor, Rimuru Road

26. Sarit Centre Select Branch – Sarit Centre New Wing, Lower Ground Floor, Westlands

27. Lavington Mall Branch – 1st Floor, Lavington Mall, James Gichuru, Nairobi

28. Kitale Branch – Ground Floor, Mega Centre Mall, Kitale

29. Lunga Lunga Branch – Ground Floor, Lunga Lunga Mall, Lunga Lunga Road, Industrial Zone, Nairobi

30. Argwings Kodhek Corner

    4th Floor

31. Gateway Mall Branch – Gateway Mall, Mombasa Road, opposite Syokimao Railway Station in Nairobi.

32. Garden City Mall Branch – Garden City Mall, Thika Road, Nairobi

33. Nanyuki Branch – Nanyuki Hussein Building, Ground

34. FloorCross Road Branch – Off River Road, Nairobi

35. Meru Branch – Ground Floor, P&K Plaza, Moi Avenue, Meru

36. Eldama Park Branch – Eldama Park, Nairobi

37. Dunga Road Branch – Nairobi Industrial Zone Dunga Road

38. Ridge Court Branch – Ridge Court, Parklands, Nairobi

39. Haile Selassie Branch – Patel Samaj Building, Haile Selassie Avenue, Mombasa

40. Spring Valley Branch – Nairobi Spring Valley 1st Floor, Tower B, Business Park.